Financial Control - Managing Your Money is Crucial to Build Wealth

Manage your money, or it will control you! Especially in business, you have to monitor and manage your finances to grow your money and build financial strength!

Whether you are employed, Self-employed, Company or Non-profit Organization, you will not achieve your financial goals if you don't control your finances. The importance of managing your money is common sense, but why is it that many people, including business owners, do not adequately control their finances and end up bankrupt? I think it's one of two things: 1. Having the right financial mindset and 2. Managing your money emotions! As an experienced financial controller, this comes naturally to me, but how do you control your money? What processes and tools do you use? I would love to get some insights. email me at; [email protected]To control your finances – you have to control your Cash flows (Operational, Investing and financial).

• Multiple Streams of Income
• Expenses to control
• Invest surplus cash wisely.
• Access to money

Most finical control Framework's cost of three broad areas

1. Resources Management - efficient and effective development of business resources, be it: Financial, People, equipment, data/IT
2. Design adequacy - a measure of how well a control system performs its functions
3. Operational effectiveness - the capability of a company to deliver products or services to its customers in the most cost-effective and controlled manner, while still ensuring the high quality.

Here are some tips to control your finances

1. Have a Money Conscious Mindset
2. Have a plan to get out of debt
3. Allocate monies to different pots – profit first system
4. Invest for the future – Compound interest
5. Create Multiple Streams of Income

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